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GT Verdict: Sport is Built on Fair Play—But What About Finance? Verdict

In sports, we generally assume that everyone plays by the rules. This trust is a natural part of the game, much like the fact that everyone on the field...

Peter Burnus
| 5 min read | April 27, 2026
Amendment to the Accounting Act approved in the Senate Accounting

As we have already informed you, on 27 June 2025 the Chamber of Deputies approved an amendment to Act No. 563/1991 Coll. on Accounting.

2 min read | July 28, 2025
New year, new rules. Find out about important changes in payroll accounting and personal income tax Accounting

For the application of the rate, the key factor is 36 times the average wage, which for 2025 is CZK 1,676,052 . Employees’ income exceeding CZK 139,671 per...

Roman Burnus
Marek Toráč
| 9 min read | January 13, 2025
Some accounting news applicable regardless of the upcoming new Accounting Act Accounting

The Ministry of Finance has published a working version of an updated draft of the new Accounting Act and a draft bill amending other laws in this context....

Ludmila Malimánková
Petra Vaněčková
| 7 min read | June 18, 2024
Consolidation package: changes for legal entities, VAT and in other areas Consolidation package

The Chamber of Deputies has just published the approved version of Chamber Print No. 488 (hereinafter referred to as “the consolidation package”) as it...

Zuzana Kalincová
| 6 min read | October 18, 2023
A major change in accounting and taxation. The Ministry has confirmed the introduction of a functional currency and the taxation of only realised exchange rate differences Audit of financial statements

The Ministry of Finance of the Czech Republic has confirmed on its website the conclusions of the meeting of the government coalition on the changes within...

Milan Pašek
Petra Vaněčková
| 3 min read | August 25, 2023
NAC has approved an update of the I-8 interpretation Accounting

On 24 April 2023, the National Accounting Council (“NAC”) approved an update to Interpretation No. I-8 Social Fund and Similar Funds Generated from Earnings...

2 min read | May 22, 2023
The new Accounting Act: Objectives of accounting reports and requirements for the quality of accounting information Amendment to the Act on Accounting

This article is the first in our series on the new Accounting Act, where we would like to gradually introduce the principles and novelties arising from it.

Petra Vaněčková
| 5 min read | May 16, 2023
Lease incentives – are you accounting for them correctly? Accounting and economic advisory

By incentive in rental relationships, we mean discounted rent or free rent. Rental incentives are mainly found in long-term contracts of lease. A landlord,...

Klára Honzíková
| 7 min read | February 8, 2022
Complex management of the digital currencies agenda (cryptocurrencies) Tax Audit

We currently encounter questions about automated or algorithmic trading on financial markets increasingly more often, about trading on unregulated...

Tomáš Brabenec
Ludmila Malimánková
Milan Pašek
| 5 min read | June 14, 2021
How to account for reserves and when can reserves be deducted from the tax base? Accounting

How to account for reserves and when can reserves be deducted from the tax base?

Petra Vaněčková
| 1 min read | October 11, 2017